PAR Technology (NYSE:PAR) Major Shareholder Purchases $8,679,591.00 in Stock

PAR Technology Corporation (NYSE:PAR) major shareholder Voss Capital, Lp bought 594,900 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $14.59 per share, with a total value of $8,679,591.00. Following the completion of the acquisition, the insider owned 4,675,000 shares of the company’s stock, valued at $68,208,250. This represents a 14.58% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Voss Capital, Lp also recently made the following trade(s):

• On Friday, May 15th, Voss Capital, Lp bought 125,000 shares of PAR Technology stock. The stock was bought at an average cost of $14.62 per share, with a total value of $1,827,500.00.

PAR Technology Price Performance

PAR Technology stock traded down $0.68 during mid-day trading on Monday, reaching $14.03. The company had a trading volume of 1,446,666 shares, compared to its average volume of 1,400,699. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. The stock’s 50-day simple moving average is $14.19 and its 200-day simple moving average is $25.46. PAR Technology Corporation has a 1 year low of $11.59 and a 1 year high of $72.15. The company has a market capitalization of $578.53 million, a P/E ratio of -7.50 and a beta of 1.32.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The business had revenue of $123.97 million during the quarter, compared to analysts’ expectations of $116.88 million. During the same period last year, the company posted ($0.01) EPS. The company’s revenue was up 19.4% on a year-over-year basis. On average, equities analysts predict that PAR Technology Corporation will post -0.05 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP boosted its holdings in shares of PAR Technology by 199.8% in the 1st quarter. Quantinno Capital Management LP now owns 73,935 shares of the software maker’s stock valued at $986,000 after purchasing an additional 49,276 shares during the last quarter. Progeny 3 Inc. raised its holdings in PAR Technology by 5.6% in the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after buying an additional 114,500 shares during the period. ABS Direct Equity Fund LLC raised its holdings in PAR Technology by 15.4% in the first quarter. ABS Direct Equity Fund LLC now owns 150,000 shares of the software maker’s stock valued at $2,000,000 after buying an additional 20,000 shares during the period. Corsair Capital Management L.P. acquired a new position in PAR Technology during the first quarter valued at approximately $133,000. Finally, Renaissance Technologies LLC acquired a new position in PAR Technology during the first quarter valued at approximately $5,508,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PAR shares. BTIG Research dropped their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 27th. William Blair reissued an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Stephens lowered their target price on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Benchmark lowered their target price on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

About PAR Technology

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.